UAE growth seen at 3.5-4pc in 2012

Dubai, November 11, 2012

The United Arab Emirates' economy is expected to grow between 3.5 percent to 4 percent in 2012, the country's economy minister said on Sunday.

"Our forecast, and I always been very cautious when it comes to these figures because we have the fourth-quarter still unfolding, is 3.5 percent this year or between 3.5 and 4 percent," said Sultan bin Saeed Al-Mansouri, speaking ahead of world economic forum discussions in Dubai.

"That means good growth at a time when numerous economies are suffering across the world," Mansouri said.

Analysts polled by Reuters in September forecast economic growth in the whole UAE would slow to 3.2 percent in 2012 from 4.2 percent last year. - Reuters